David Cutler is our Local Property Expert in St. Kilda, Melbourne. Discover more about him below…
What are the top three pitfalls sellers make when renovating their home?
- Over capitalising is a big no-no. That is, spending too much money, relative to the value, or potential sale return of your home. This can really eat into the potential profits a seller may hope to earn.
- Keep renovations neutral. Believe it or not, a bright red feature wall in the living area may not be everyone’s cup of tea! By keeping it neutral, light and bright, you will appeal to a broader audience, attract more buyers, and can therefore get the best price possible for your property.
- Keep in mind what the buyers want. Remember, it is not you who will be living there. When you make choices, think carefully about what the average buyer will be looking for. For example, your target market might include young families, therefore, renovating and removing a bath tub might affect their interest in your property.
What should sellers avoid doing on auction day?
Auction days can be really exciting and nerve-racking all at the same time. Selling your property there are a few things that you can do to ensure that your day goes as calmly and smoothly as possible.
For one thing, try not to engage with the buyers on the day. They may be on a fishing expedition on price. I remember when I sold my own house a few years ago, there were some buyers who were trying to hang close and listen in as I had my final pre-auction pow-wow with my auctioneer!
During the auction, don’t hang around the buyers, they might find it intimidating. Give them space so that they can put their best bids in unfettered. Leave it to us, your property experts to get the best price we can for you.
Another issue I sometimes see, is when sellers decide to stand alongside the buyers during the auction. Keep your best poker-face on, and if you can’t contain your emotions, consider that it might be better if you aren’t out in the public eye during the auction.
What would you say is the top benefit of selling your home via auction?
The best thing about selling via auction is that there is a finite date that the buyer has to perform on or by. It automatically creates a wonderful sense of urgency. It is great for fuelling a competitive market place for your property. It also prevents a long drawn out campaign.
What would you say is the top benefit of selling your home via private treaty?
Marketed with a sharp asking price, some buyers prefer this method as they are intimidated by the auction process and would prefer a no-hassle approach. Qualified buyers know value and will act immediately. I have found that selling via private treaty can sometimes end up in a competitive negotiation with multiple buyers, but in a style that is not nearly as stressful for all parties involved.
Is there any real estate jargon you would advise sellers to be wary of from real estate agents?
Beware the agent who tries to win your business saying “we have a list of buyers who would be interested in your property”. Buyers follow property not agents, and they don’t belong to any particular agency, they are welcome to buy from anyone. About 92 per cent of buyers come to a property having spotted it on the internet.
Another pet peeve statement is the “No Sale, No Fee” promise. Just remember that someone is paying for the advertising and in the end it won’t be the agent. It is not unusual for agents who say this to push sellers to come down on price until a sale is achieved.
Quick fire time…
Why did you join Purplebricks?
I believe the old system was antiquated. It was time for a change, for something new, and then Purplebricks came around. With Purplebricks, it is all about a reasonable fee for professional service. I believe that people are tired of the old system. I know I am. The honest and transparent nature of the business appealed to me, as it suits my personal values and ethos. The consumer was due for change to something better.
What is the best thing about your job as a Local Property Expert?
The best thing about my job as Local Property Expert is meeting new people and building new relationships. It is also great to be invited in to see so many different beautiful homes, and getting to meet the incredible residents that call the South East home.
Where is your favourite place to holiday/visit in Australia?
I enjoy Sydney to catch up with old friends and don’t mind the occasional visit to the Gold Coast for a bit of family time.
Would you prefer your dream house to be near the sea or located in the country? Describe your dream home.
Something with a view of the sea would do me fine. I would like every room to have a view of the ocean…perhaps an infinity pool too!
Where would your dream house abroad be?
Marbella in Spain. Fantastic climate, amazing people and a relaxing seaside lifestyle.
About David Cutler
A fully Licensed Estate Agent focused on residential sales, with 25 years experience in sales and customer service, David Cutler is committed to ensuring the best possible result for all his clients. He approaches each client with warmth, directness and, of course, strategy. Together with each client, he develops a strategic game plan for their campaign with clear goals and the most appropriate marketing approach. A lover of Melbourne life, David enjoys all that this city has to offer together with his wife and two daughters. Feel free to contact David any time via: